Young Wizard, the answer you seek is easily found under Help & Support.
You can change your password by logging into the Wizard101.com website and selecting the "My Accounts" link on the far left side of the screen. Under "Basic Information" click on "Change Password" and change to the desired password.
If you are a parent account wanting to change the password on your child's account you can do so by selecting their account under your own and following the same steps as above.
